Accelerate Resources drills 38-metre nickel intersection
Mapping and sampling for nickel and cobalt is now planned at the Henrietta anomaly.
Company
ASX:AX8
Accelerate Resources Limited is an emerging mineral exploration company focused on the discovery and development of gold and critical minerals. The company is committed to creating shareholder value through exploration success, project de-risking, and growth via strategic acquisitions and partnerships.
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Mapping and sampling for nickel and cobalt is now planned at the Henrietta anomaly.
Encouraging results from the stage one drill program led to the discovery of a copper-cobalt porphyry system in Tasmania.
The company will begin exploration at the ex-Force Commodities assets after it closes its IPO.
The 156.1-metre hole indicates the potential for magmatic nickel-copper-cobalt sulphide deposits in the area.
Around 600 investors will spend time at the Sydney event on Tuesday or at the Melbourne event on Thursday.
Diamond drill results have confirmed the discovery of a porphyry system.
The diamond drill hole is at a depth of 50 metres targeting 200 metres and is testing an EM conductor.
The prospect is one of a number identified by the company at the Mount Read Cobalt Project in western Tasmania.
The prospect is one of several Accelerate is exploring at its Mount Read Cobalt Project in western Tasmania.
Drilling supports Thomas Creek's potential to host a copper-cobalt deposit.
S&P expects mined cobalt supply to increase at a CAGR of 12% to 2021.
Significant cobalt mineralisation associated with sulphide veining suggests further mineralisation at the relatively untested target.
A ground-based Fixed Loop Electromagnetic (FLEM) survey is underway at the Mount Read project in Tasmania.
Official lab assays remain pending and core from the first hole has now arrived in Perth.
Completion of the first hole is a milestone for the new company and a second hole is due to start today.
Samples from the Mt Read Cobalt Project graded up to 7,800 ppm cobalt.
The three new licences will expand the project to 506 square kilometres.
Three diamond holes are planned to test a large chargeable anomaly at the Mount Read Cobalt Project on Tasmania’s west coast.
The company’s shares are trading about 6% higher intra-day, at $0.18.
An induced polarisation geophysical survey is underway at Thomas Creek prospect.